Section 1 of the syllabus looked at economic decisions made on a 'micro' scale- the decisions of households, firms and markets and how governments can attempt to influence market outcomes. Macroeconomics, on the other hand, looks at decisions, again often associated with resource allocation, on a bigger scale. Examining decisions made by national governments in an attempt to influence national economies and moderate levels of economic growth, unemployment, inflation and income distribution.
Section 1 of the syllabus looked at economic decisions made on a 'micro' scale- the decisions of households, firms and markets and how governments can attempt to influence market outcomes. Macroeconomics, on the other hand, looks at decisions, again often associated with resource allocation, on a bigger scale. Examining decisions made by national governments in an attempt to influence national economies and moderate levels of economic growth, unemployment, inflation and income distribution.
How can we measure and model an economy?
The Aggregate Demand and Aggregate Supply model
The nature of unemployment
The nature of inflation
Equity and the distribution of income
Government Policy and objectives- a summary
Economy tracker UK- a graphical look at key economic indicators in the UK